April 22 (Reuters) - Wall Street was mixed on Friday as
disappointing quarterly reports from Microsoft and Alphabet
slammed tech stocks and weighed against a surge in oil prices
that lifted energy shares.

The S&P technology sector dropped 2.3 percent, on
track for its worst daily decline since early February, with
Facebook down 2.9 percent and Apple falling 1.1
percent.

Microsoft dropped 6.8 percent, contributing the
biggest drag to the S&P 500, and Google's parent Alphabet
lost 5.6 percent as investors punished both companies
for missing profit and revenue estimates.

Helped by a softer dollar and a recovery in oil prices, the
S&P 500 has recovered from a steep selloff earlier this year and
is only about 2 percent short of last May's record high.

Wall Street has rock-bottom expectations as companies post
their first-quarter results over the next few weeks, with S&P
500 companies on average seen reporting a 7.1-percent fall in
profit, according to Thomson Reuters I/B/E/S.
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